PBA HOLDINGS BHD
KLSE (MYR): PBA (5041)
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Last Price
2.12
Today's Change
+0.06 (2.91%)
Day's Change
2.04 - 2.15
Trading Volume
1,203,500
Financial
Market Cap
702 Million
NOSH
331 Million
Latest Quarter
31-Dec-2023 [#4]
Announcement Date
28-Feb-2024
Next Quarter
31-Mar-2024
Est. Ann. Date
06-Jun-2024
Est. Ann. Due Date
30-May-2024
QoQ | YoY
-132.89% | 27.83%
Revenue | NP to SH
423,602.000 | 34,348.000
RPS | P/RPS
127.87 Cent | 1.66
EPS | P/E | EY
10.37 Cent | 20.45 | 4.89%
DPS | DY | Payout %
3.50 Cent | 1.65% | 33.73%
NAPS | P/NAPS
2.82 | 0.75
QoQ | YoY
15.7% | -30.63%
NP Margin | ROE
8.11% | 3.67%
F.Y. | Ann. Date
31-Dec-2023 | 28-Feb-2024
Latest Audited Result
31-Dec-2023
Announcement Date
30-Apr-2024
Next Audited Result
31-Dec-2024
Est. Ann. Date
30-Apr-2025
Est. Ann. Due Date
29-Jun-2025
Revenue | NP to SH
423,602.000 | 34,348.000
RPS | P/RPS
127.87 Cent | 1.66
EPS | P/E | EY
10.37 Cent | 20.45 | 4.89%
DPS | DY | Payout %
3.50 Cent | 1.65% | 33.73%
NAPS | P/NAPS
2.82 | 0.75
YoY
-30.63%
NP Margin | ROE
8.11% | 3.67%
F.Y. | Ann. Date
31-Dec-2023 | 28-Feb-2024
Revenue | NP to SH
423,602.000 | 34,348.000
RPS | P/RPS
127.87 Cent | 1.66
EPS | P/E | EY
10.37 Cent | 20.45 | 4.89%
DPS | DY | Payout %
-
NAPS | P/NAPS
-
QoQ | YoY
-44.52% | -30.63%
NP Margin | ROE
8.11% | 3.67%
F.Y. | Ann. Date
31-Dec-2023 | 28-Feb-2024
Hints :
Click the QoQ or YoY on table to view the QoQ or YoY Financial Result page.
Click the QoQ or YoY on table to view the QoQ or YoY Financial Result page.
Date
Financial Result
Financial Ratio
Per Share Item
Performance
Valuation (End of Quarter)
Valuation (Ann. Date)
| Date | Financial Result | Financial Ratio | Per Share Item | Performance | Valuation (End of Quarter) | Valuation (Ann. Date) | |||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| F.Y. | Ann. Date | Quarter | # | Revenue | PBT | NP | NP to SH | Div | Net Worth | Div Payout % | NP Margin | ROE | NOSH | RPS | Adj. RPS | EPS | Adj. EPS | DPS | Adj. DPS | NAPS | Adj. NAPS | QoQ | YoY | EOQ Date | EOQ Price | EOQ P/RPS | EOQ P/EPS | EOQ P/NAPS | EOQ EY | EOQ DY | ANN Date | ANN Price | ANN P/RPS | ANN P/EPS | ANN P/NAPS | ANN EY | ANN DY |
PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.
NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.
Div Payout %, NP Margin, ROE, DY, QoQ ⃤ & YoY ⃤ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.
All figures in '000 unless specified.
Discussions
6 people like this. Showing 50 of 1,481 comments
PENANG: THE SILICON VALLEY OF THE EAST
The state of Penang, nestled along the northwest coast of Peninsular Malaysia, needs no introduction in the global electronics manufacturing sector. Despite its diminutive stature with just over 1,000 square kilometers of land area and a 1.8 million-strong population, Penang commanded an estimated 5% of global semiconductor exports in 2019, according to data compiled from the Department of Statistics Malaysia (DOSM) and UN Comtrade.
Today, Penang houses more than 350 MNCs that are supported by over 3,000 manufacturing-related SMEs. As Penang flourished as a vibrant, regional E&E manufacturing hub, the local talent pool steadily accumulated a wealth of business intelligence and technical experience, enabling the robust supply chain to evolve in tandem with technology megatrends. This, in turn, enabled the State to focus on pursuing investments that have propelled the industry up the value chain, away from its beginnings as a low-cost manufacturing hub. Consequently, Penang has seen a proliferation of upstream technology-related investments in high value-added functions in recent years, ranging from research and development (R&D), design and knowledge-based solutions, and downstream advanced manufacturing and testing to global business service (GBS) and Centre of Excellence (CoE) activities.
Penang’s growing significance in the global E&E value chain is demonstrated by its steady and resilient export performance in recent years. From 2014 to 2019, the State’s E&E exports grew at a compounded annual rate (CAGR) of 12% to reach RM210 billion (US$51 billion). It has emerged as a hub for professional, scientific and controlling instruments (including medical technology), with exports of these products growing at a 5-year CAGR of 15% to reach RM23 billion (US$6 billion) in 2019.
E&E products, alongside professional, scientific and controlling instruments, collectively contributed between 77% and 82% of Penang’s total annual exports since 2014, and accounted for 50% of Malaysia’s exports in these two segments during the period.
More impressively, despite the disruptions from the COVID-19 pandemic, Penang’s total exports continued to rise in 2020, growing 7% year-on-year to RM310 billion (US$75 billion), and a further 14% year-on-year in January and February 2021, driven by strong global demand for semiconductors.
https://www.semi.org/en/sea-newsletter-penang-the-silicon-valley-of-the-east
1 month ago
https://www.thestar.com.my/news/nation/2024/04/07/use-water-wisely-until-dams-re-fill-penang-residents-told
So many bad news. time to cut loss
1 month ago
Penang Development Corp to set aside RM5 bil for 15 high-impact projects
https://theedgemalaysia.com/node/705866
1 month ago
Penang consumer’s water bill, which he said used to be RM7.70 at every bill cycle has now gone up to RM17.36 under the new rates with the same water usage
For a household that used to pay around RM47 every bi-monthly, the bill went up to RM126 under the new rates for around the same water usage
2 weeks ago
Penang water bill show PBA will reap minimum additional RM 10 hike for those minimum water usage and much more higher for those use more water.
2 weeks ago
Under the new rates, the first 20 cubic meters is at 62 sen (up 182 per cent from 22 sen), from 20 cubic metres to 35 cubic metres the rate is at RM1.17 (up 154 per cent from 46 sen) and for the third band of more than 35 cubic metres, the rate is RM2.07 (up 204 per cent from 68 sen).
2 weeks ago
According to feedback, the water charges of many families have increased as much as 100% and some even claim to be more than 150 %
Based on last Q result, PBA water revenue is RM 94.8m, therefore, estimate PBA future water revenue will surge at least 1 fold higher and most of revenue hike translate direct to bottomline after deduct tax
2 weeks ago
However, if PBA do aggressively pipe replacement, higher cost will incur to offset partly upcoming windfall profit.
2 weeks ago
Water may be a commodity that you don't think about when it comes out of the tap, but water is essential to life.
Water is a key input in everything from food and beverages to the cleaning of semiconductor wafers and hydraulic fracturing (fracking). The sourcing, purification, and distribution of water is big business around the world, and the threat of climate change makes that more true now than ever.
2 weeks ago
And Malaysia got lots of water. Hmm this year beginning penang not so much.. South side got more regular rain drops , but maybe because it's El Nino . however second half of the year should recover ,already storm is returning
2 weeks ago
Penang also got a population boom , lots of China and Hong Konger decided to migrate or call Penang the second home, so water usage is sure higher. But Penang mater management sure need to improve as well.
2 weeks ago
Penang's water consumption had reached 927 million liters per day (MLD) on Sunday (March 17) compared to last year's average total of 877 MLD. “This shows an increase as high as 50 MLD from year to year.
2 weeks ago
Based on PBA latest annual report, PBA bear subsidy RM 115.2m for Penang domestic water user. Management expect to decrease these subsidy significantly following 1 Feb water traffic hike.
There are total 593,255 domestic account and 461,350 consume < 35m3, while balance 131,905 consume > 35m3
Based on new water traffic,
1. domestic account water consumption < 35m3 charge 86sen, is 50sen hike per m3
Water bill increase 50sen x 35m3 = hike RM 17.5/account
Total domestic account 461,350 x RM 17.5 = RM 8.07 million/month
2. domestic account water consumption > 35m3 charge RM 2.07, is RM 1.39 hike per m3
Water bill increase 50sen x first 35m3 = hike RM 17.5/account
Water bill increase RM 1.39 x (35m3 - 45m3)= hike RM 13.9/account
Total domestic account 131,905 x (RM 17.6 + RM 13.9) = RM 4.15 million/month
In total water traffic hike impact RM 8.07 + RM 4.15 = RM 12.22 million per month or Quarterly hike RM 36.7 million or Hike RM 146.8m pa
Remark: To arrive above calculation，
1. assumption is make for maximum consumption up to 35m3 for those consume categori <35m3, by assume all consume 35m3
2. assumption is made for minimum consumption above 35m3 for those consume categori > 35m3 by assume all consume additional 10m3
3. assumption is made to exclude domestic bulk meter whom stay in high rise apartment in which bulk meter water traffic hike flat rate at 35sen m3 have increase significantly to charge flat rate RM 1.73 m3 (its massive hike RM 1.38 per m3)
2 weeks ago
These additional RM 146.8 m pa due to domestic water traffic is to
1. Decrease water subsidy significantly
2. Opex - To cope higher operation cost such as pipe replacement
3. Capex - To fund expansion capacity on exiting water treatment capacity and to built new water treatment plant
Remark: The amount spend on Capex will NOT affect PBA profit margin, therefore, all water traffic hike will direct positive to bottom-line, increase profit margin directly. The profit earn then channel to fund capacity assets and built additional water treatment plant which will record as additional new assets to PBA.
Only amount spend on opex such as pipe replacement will affect PBA profit margin, the higher rate of old pipe replacement to new pipe translate directly to increase operation cost, therefore decrease profit margin from above water traffic hike
2 weeks ago
Capex will increase depreciation and reduce cash flow hence reduce the ability to pay higher dividend
2 weeks ago
Increase revenue through traffic hike is direct increase profit earning. The surge in profit allow higher capital to fund capex such as increase water treatment capacity, built new water treatment plant to meet increase water demand which is expect to leap up by another 30% by 2030. The surge in water demand in turn increase higher revenue to PBA. It's win win cycle to generate additional positive cash flow. Of course new and additional water treatment assets subject to annual depreciation review
2 weeks ago
@hng33, that's right. The increase in water tariffs will raise PBA's revenue by over RM100m a year, the bulk of which will flow to the bottom line.
The increased operating cashflows from the water tariff hike are to fund the capex for next few years, estimated at over RM300m for next 5 years. Hence PBA needs the additional operating cashflows of at least RM100m a year to cater for such capex and slightly increased opex.
2 weeks ago
Dragon328
I expect much higher revenue increase than RM 100m as Penang water consumption just surge new high recently, and higher water consumption is at higher traffic band category at RM 2.07 per m3 which is increase RM1.37 per m3 hike compared to lower band category 50sen per m3 hike.
2 weeks ago
Compared between PBA and RANHILL, PBA strategy is more focus on capex increase water treatment plant capacity to increase treated water supply to meet ever increasing Penang water consumption. Many penang land are consider heritage area, therefore, limit opex on pipe replacement effort.
On the other hand, RANHILL strategy is more focus on opex to aggressively pipe replacement, incur very high cost to meet targeted non revenue water%.
2 weeks ago
Good move of PBA today.
Looks like insiders are buying ahead of quarterly result announcement end of this month.
1 week ago
Penang has unveiled several crucial initiatives focused on strengthening the state's position as a global economic leader in three key sectors: trade, technology, and tourism.... More water needed....
Chow also revealed that the federal government has given the greenlight for the Kerian Integrated Green Industrial Park to supply surplus water from the park to Penang - - - - > source treated water fom Perak - - ->
higher Penang water traffic rate in next 3 year review
1 week ago
PBA, NTA is RM 2.89, price trade below NTA at RM 2.16 !?
Ranhill, NTA is 61sen, price trade double up above NTA at RM 1.40
1 week ago
Perak penang water transfer have change from raw water to treated water. Therefore, PBA needless to built new water treatment plant to process raw water. These massive capex will alleviate PBA cash hoard forward. PBA only need to lay new pipeline to connect Perak water treatment plant to Penang mainland seberang prai, which free up existing PBA own water capacity to focus supply water to its island Penang.
With direct transfer treated water fro Perak instead of raw water, Penang water traffic will hike much more higher forward.
1 week ago
With less capex forward, PBA afford to opt much more higher cash dividend payout forward
1 week ago
It will be interesting to see how much profit PBA can achieve after the water tariff hike.
If there is no more provision for deferred tax charges, my estimation is for RM15m (normal quarterly profit before tariff hike) + RM60m/4 *2/3 = RM25 million net profit for this coming Q1 FY2024
1 week ago
If the revenue increase is as high as RM146m as hng33 stated above, and most of the topline increase flows through to the bottom line, then net profit could increase by RM110 million a year and this upcoming Q1 FY24 may see net profit jump to:
RM15m + RM110m/4 *2/3 = RM33 million
1 week ago
CALVIN TAN SAY, THANK YOU 9 MILLION TIMES FOR 9 MILLION PAGE VIEWS IN i3 INVESTORS' FORUM!"
https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2024-05-10-story-h-181811054-CALVIN_TAN_SAY_THANK_YOU_9_MILLION_TIMES_FOR_9_MILLION_PAGE_VIEWS_IN_i3
1 week ago
dragon328
All state now operates under assets light business model. All state water assets now transfer to Federal PAAB which in turn leaseback these water assets to state water operator like PBA, Ranhill SAJ. These state water operator are task to focus on operating these water treatment assets, pipeline, maintain and collect water traffic fee from customer to repay back lease to PAAB under 45 year leaseback arrangement.
Under 45 leaseback arrangement, PAAB charge interest 6% and incur escalating 2.5% fees on outstanding on state operator. The repayment amount varies dependent amount of water assets acquire by PAAB. For Penang, PAAB acquire assets total RM 660m, and PBA repayment is about RM 14.5 m pa since 2009. These repayment amount will increase if PPAB fund to require to built additional new water assets for Penang. The principal amount repayment PBA pay lease to PAAB have since increase to RM 16.5m pa.
Under arrangement, state operator have first right option to use its own fund to built additional water asset or secure fund from banking if their interest cost is less than PAAB. Therefore, PAB need increase water traffic to increase its profitability and cash to fund new water asset instead of solely rely on PAAB funding.
While PBA gradually stand firm financially with net cash position, another water operator Ranhill SAJ have seek moratorium from PAAB since 2021. It have since continued opt only partial lease rental to PAAB in 2022 and 2023 till now.
1 week ago
In April 2023, PAAB has notified Ranhill SAJ on the rejection of Ranhill SAJ application for moratorium on partial lease rental for 2022-2023.
Beside, PAAB, via letter dated 15 May 2023 inform Ranhill SAJ it will charge late payment intereswt on outstanding lease payment begin from 1 June 2023 at rate 6.65% pa
On 25 oct 2023, Ranhill SAJ received demand letter from PAAB in relation to partial lease rental for 2022-2023amounting to RM 95.1 m (Source: Ranhill annual report 2023, page 147)
1 week ago
Technology, Property, and Construction - Penang- Silicon Hub of ASEAN
https://klse.i3investor.com/web/blog/detail/rhbinvest/2024-05-09-story-h-181842088-Technology_Property_and_Construction_Penang_Silicon_Hub_of_ASEAN
Remark: Penang water consumption is expected to growth from 877MLD in 2023 to 1500MLD in 2030.
PBA revenue growth is compounded propel by both increase water sold + water traffic hike every 3 year review
1 week ago
PBA
a super A1 stock is making a comeback.
its on recovery.
its location is now at 2nd HL, higher-low.
let's expect, the ROCKET will provide the rocket trend again to PBA.
a nice QR PAT soon is the impetus to fly to a new ATH n everything's nice...
https://www.tradingview.com/x/ER4EA7nh/
21 hours ago
Coming Q result
1. Account 2 month domestic traffic hike
2. Continue full Q non domestic traffic hike
3. Account 2 month Electricity cost pass through 7sen/m3 water traffic hike to both domestic and non domestic water user.
4. Additional 50MLD Penang water consumption recorded
20 hours ago
waaah.... just realised PBA so thinly traded, or is it seasonal? the buy and sell volumes are chump change only hahahaha.... :-) peace
20 hours ago
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hng33
bought PBA at 1.81
1 month ago